Glennmont Partners has announced today the launch of its second fund investing in clean energy infrastructure projects in Europe and that €200 million has been committed at first close by a combination of both new and existing investors from its first fund. The life of the fund is 10 years and it has a target size of up to €450 million. Glennmont is one of Europe's largest fund managers focusing exclusively on investment in clean energy infrastructure.

Commenting on the launch of the second fund and the level of commitments at first close, Glennmont Managing Partner Joost Bergsma said:

"When we formed Glennmont our intention was to create a platform which fully aligned the interests of our investors with those of our team. We were clear that our specialist focus on clean energy infrastructure investments would appeal to institutional investors need for yield and long term capital appreciation. The strong response we have received to our second fund at this early stage reinforces those views."

Glennmont was founded earlier this year following a spin-off of BNP Paribas Clean Energy Partners. Glennmont's first fund is now fully committed and the firm has now made investments worth more than €1 billion.

Bergsma added:

"Clean energy infrastructure is a highly attractive asset class for those investors looking for lower-risk assets simultaneously offering wealth protection, consistent yield and capital value appreciation. Our specialised and focused team are seeing high calibre deal flow and this new fund will give us the capital required to realise value from the best of those deals."